Pacific Green has inked an agreement to sell its Limestone Coast North Energy Park in South Australia to Intera Renewables for $460 million.
The Limestone Coast North Energy Park is Pacific Green’s 250MW/500MWh battery energy storage development in the Limestone Coast region of South Australia, which will begin commercial operations in early 2027.
Related article: Pacific Green gets planning tick for SA energy parks
Intera is the renewable energy platform majority owned by funds managed by Palisade Investment Partners.
As part of the transaction, Pacific Green will be retained to manage the construction of the project through to commercial operations following which Palisade Integrated Management Services (PIMS) will carry out asset management activities through its role as Intera’s asset manager.
Pacific Green CEO Scott Poulter said, “We are delighted to have entered this agreement with Palisade, one of Australia’s leading infrastructure fund managers. Limestone Coast North is critical to South Australia’s Electricity network and is the first of Pacific Green’s 10GWh Australian pipeline. We are also very pleased to enter into the first of a portfolio of long term tolling Power Purchase Agreements with ZEN Energy.”
Pacific Green has ambitions to become one of Australia’s leading utility-scale battery developers by building a multi-gigawatt platform nationwide.
Related article: Pacific Green expands into NSW with land acquisition
Limestone Coast North is the first of a 10GWh development pipeline of battery energy parks the company is rolling out throughout the country. Limestone Coast West, a 250MW/1,000MWh battery energy storage development, is finalising grid approvals with construction expected to commence in September 2025.
Portland Energy Park, 1,000MW/2,500MWh across four co-located battery assets in Victoria, is finalising development approval with construction expected to commence in March 2026. In November 2024, Pacific Green announced the acquisition of land rights in Wagga Wagga, where the company will develop its first NSW project.
